💻Your Medical Questions Answered—by Private Equity

State of Play

Let’s be honest—I can’t be the only one who’s Googled a mild cough or headache, only to spiral into a diagnosis of something terminal. At the center of that hypochondriac rabbit hole was WebMD.com, an iconic digital health publisher that is now part of Internet Brands, a digital media conglomerate owned by KKR.

Internet Brands—most recently recapitalized at a $12+ billion valuation by KKR and Temasek, with new backing from Warburg Pincus—has come a long way since its origins as CarsDirect.com, an early online car-buying platform. Today, it’s built an empire of healthcare-focused digital media, SaaS, and education properties (plus legal and automotive digital properties).

In this piece, we’ll unpack the evolution of Internet Brands and how KKR reshaped the business through a high-conviction healthcare pivot